Thadi, HVG set up joint venture to raise 1.2 million pigs per year
Thadi, the agricultural arm of automotive manufacturer Thaco Group, will shake hands with pangasius exporter Hung Vuong JSC (HVG) to raise pigs following the European Food Safety Authority (EFSA)’s standards.
Thadi and Hung Vuong JSC sign a strategic cooperation agreement in HCM City on January 9. (Photo: VNA)
HCM City (VNA) – Thadi, the agricultural arm of automotive manufacturer ThacoGroup, will shake hands with pangasius exporter Hung Vuong JSC (HVG) to raise pigs following theEuropean Food Safety Authority (EFSA)’s standards.
Under a newly-signed strategic cooperation agreementbetween the two sides, Thadi will hold 65 percent stake in a jointventure with HVG to raise up to 1.2 million pigs annually.
This year, thejoint venture pour 2 trillion VND (86.34 million USD) in raising about 45,000 breeding pigs at farms in An Giang and Binh Dinh with 15,000 pigs expected to be supplied to themarket in March.
Thadi willalso acquire a 35 percent stake at HVG and participate in the board ofmanagement of the pangasius producer.
Thaco’sChairman Tran Ba Duong said HVG has exclusive rights to raise a pig varietyimported from Denmark. The company has developed hi-tech pig farms in An Giangand Binh Dinh, and also produces cattle feeds and supplies hi-quality piglets to farmers, he said.
However, thefirm has suffered from losses and financial difficulties in recent years.
Cooperationwith Thaco will help HVG gain breakthroughs in live-stock farming and provideVietnamese consumers with safe food products at affordable prices, said HVGChairman Duong Ngoc Minh.
Minister ofAgriculture and Rural Development Nguyen Xuan Cuong highly spoke of the cooperation, saying thestrategic deal will contribute to developing hi-tech farming in Vietnam. Healso expected Thaco to expand hi-quality cattle farming to satisfy domesticdemand.
Thadi hascharter capital of 3.5 trillion VND and owns a total agricultural land of29,600 hectares, of which 10,000 hectares are for fruit farming. The companyalso raises about 90,000heads of beef cattle./.
The Ministry of Industry and Trade (MoIT) and the Ministry of Agriculture and Rural Development (MARD) have proposed the Government import pork based on the directions of Deputy Prime Minister Vuong Dinh Hue.
Large livestock enterprises should keep pork prices in check despite limited supplies on the domestic market due to African swine fever, Minister of Agriculture and Rural Development Nguyen Xuen Cuong has said.
Thailand's pork and chicken exports have soared significantly as pork production in many countries has dropped due to African swine fever (ASF), said the Thai Ministry of Commerce's Office of Agricultural Economics (OAE).
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Thadi and Hung Vuong JSC sign a strategic cooperation agreement in HCM City on January 9. (Photo: VNA)
